OKC ranked No. 1 for lowest cost of living among large cities

Oklahoma City has clinched the top spot for the lowest cost of living among large cities with populations exceeding 500,000. That’s according to a recent report by the Council for Community and Economic Research (C2ER). 

The 2023 annual Cost of Living Index (COLI) for Oklahoma City stands at an impressive 85.1, a significant 14.9 points below the national average. This remarkable achievement marks an improvement from the previous year when OKC secured the second position with a COLI of 86.5 in 2021. 

For those seeking a more tangible perspective on the cost difference, consider this: If you earn $44,000 after taxes in the bustling city of Seattle, your equivalent or comparable income to achieve the same standard of living in Oklahoma City would be $25,835.  

Breaking down the numbers further, the cost-of-living differentials paint a vivid picture of the financial benefits of relocating. Groceries, for instance, would set you back 19.86% less in Oklahoma City compared to Seattle. Housing, often a significant expense, is a whopping 68% more affordable in OKC. Utilities, transportation and healthcare costs also contribute to the overall savings, with respective reductions of 5.42%, 23.52% and 23.97%. 

This data, extracted from C2ER's comprehensive analysis, reinforces the economic attraction of Oklahoma City. The city not only secures its position as the most budget-friendly among large U.S. cities but also offers a tangible and quantifiable advantage for residents, ensuring a higher standard of living at a significantly lower cost. 

For more detailed information on the COLI and to explore the nuances of this economic analysis, you can refer to C2ER's 2023 Annual Average Cost of Living Index. 

This story originally ran on VeloCityOKC.com.